Westpac revises their call ahead of the RBNZ policy meeting tomorrow
The firm says that in light of the new COVID-19 community case in Auckland, the RBNZ will not be hiking its OCR tomorrow. I reckon that's pretty much a given now, considering a fresh nationwide lockdown has just been announced.
And all of this is being reflected in the kiwi's price action, with NZD/USD posting fresh lows on the day still at 0.6913 currently. The July lows around 0.6880-00 will be the key support region to watch next in gauging any further downside leg for the pair.